Exponential Expansion in Evolutionary Economics

1 Environmental Dynamics, Department of Science and Environment, Roskilde University2 The Department of Environmental, Social and Spatial Change, Roskilde University3 Quaternary Research Group (QRG), Department of Science and Environment, Roskilde University4 Environmental Risk, Administration Department of Roskilde University, Roskilde University5 Space, Place, Mobility and Urban Studies, Department of People and Technology, Roskilde University

Subtitle:

A Model Proposition

DOI:

10.2753/JEI0021-3624470306

Abstract:

This article attempts to solve current problems of conceptual fragmentation within the field of evolutionary economics. One of the problems, as noted by a number of observers, is that the field suffers from an assemblage of fragmented and scattered concepts (Boschma and Martin 2010). A solution to this problem is proposed in the form of a model of exponential expansion. The model outlines the overall structure and function of the economy as exponential expansion. The pictographic model describes four axiomatic concepts and their exponential nature. The interactive, directional, emerging and expanding concepts are described in detail. Taken together it provides the rudimentary aspects of an economic system within an analytical perspective. It is argued that the main dynamic processes of the evolutionary perspective can be reduced to these four concepts. The model and concepts are evaluated in the light of Thomas Kuhn’s notion of scientific paradigms and criteria for a good theory (1977, 1996). The paper thus aims to augment and assimilate the fragmented and scattered body of concepts presently residing within the field of evolutionary economics, by presenting an intuitive framework, applicable within the theoretical and analytical corpus of contemporary literature.